Top 10 Best Stock Market Analysis Software Review 2013
To get an advantage in the stock market you need a solid education, experience, patience and also the best tools. This stock market analysis software review will compare 10 highly rated software offerings from industry giants to new entrants.
What you need in a software package is essentially down to how you trade and what information you use in your trading style.
If you are a day trader you may need real-time news, real-time scanning and level II streaming quotes. If you are a long term fundamental investor you may be looking for strong economic and company fundamentals scanning. If you want to develop your own automated trading systems that are back tested and place trades automatically you will be looking for this functionality.
Rating these packages side by side can give the impression that one package is better than all the rest, but the key is what software suits you and your trading style the best. Please read the “Recommended For” section in the reviews to understand the unique offerings that each vendor provides. No two software packages are identical, each provides a unique price and feature point.
Also Liberated Stock Trader has forged relationships with 5 of the Top 10 vendors to allow you to get a discount or bonus if you decide to buy one of these great packages.
|Vendor||Telechart TC2000||TradeStation||E-Signal||MetaStock||EquityFeed||Ninja Trader||ProfitSource||Echartar||VectorVest||Elmwood Data|
|Total Score Out of 10||8.9||8.9||8.3||7.6||7.6||7.1||6.3||4.7||4.7||4.4|
|Pricing & Software|
|Monthly End of Day||Gold $22||$249 or free for brokerage clents||$37.95||$24||Free||270 INR||$59||$29.95|
|Monthly Real Time||Platinum $67||$299 or free for brokerage clents||$120||$59||$179||$50 optional||$1295 AUD 1 Yr||2250 INR||$129|
|Software Only Fee||$0||$499||1 time $995|
|Customizable Data Feeds||✔||✔|
|Customer Service & Education||Excellent||Excellent||Excellent||Excellent||Excellent||Excellent||OK||OK||OK||Good|
|Market Data Coverage||US/Canada||Global||Global||Global||US Only||Global||Global||India||Global||US|
|Pricing & Software Score||8||9||10||10||8||8||2||8||4||4|
|Broker Inegration Stocks||✔ TDA||✔||✔TDA, IB +10||✔||✔TDA, IB +10||✔TDA, IB +10||✔|
|Broker Inegration Options||✔||✔TDA, IB +10||✔||✔TDA, IB +10||✔TDA, IB +10||✔|
|Place Trades from Charts||✔||✔||✔||✔|
|Live Position P&L||✔||✔||✔||✔||✔||✔|
|Trade Management Score||5||10||10||0||10||10||8||2||2||0|
|Fundamental Scanning & Screening|
|Real Time Scanning & Filtering||✔||✔||✔||✔||✔||✔||✔||✔|
|Scanning Integrated Into Charting||✔||✔||✔||✔||✔||✔|
|Fundamental Screening Score||10||10||6||6||10||3||10||2||6||10|
|Real-Time News Feed||✔||✔||✔||✔|
|Multiple Charts Per Desktop||✔||✔||✔||✔||✔||✔||✔||✔||✔|
|Bar – Line – HLC – OHLC – Candlestick||✔||✔||✔||✔||✔||✔||✔||✔||✔||✔|
|Point & Figure||✔||✔||✔|
|Rate of Change||✔||✔||✔||✔||✔||✔||✔||✔|
|Relative Strength / RSI||✔||✔||✔||✔||✔||✔||✔||✔||✔|
|Volume at Price||✔||✔||✔||✔|
|Custom Indicator Development||✔||✔||✔||✔|
|Total Number of Indicators||70+||145+||22+||300+||20+||104+||35+||32+||19+|
|Technical Analysis Score||10||9||8||10||6||9||8||8||5||5|
|Stock Systems & Back Testing|
|Create Customizable Systems||✔||✔||✔||✔||✔||✔||✔||✔|
|Back Testing Point & Click||✔||✔||✔||✔||✔||✔|
|Back Testing Programmatic||✔||✔||✔||✔||✔||✔||✔||✔|
|Systems & BackTesting Score||10||8||8||8||0||8||8||5||8||5|
|Ease of Use||10||8||8||7||9||6||8||8||7||7|
|Special Offers AvailableClick to view||Free Crash Detector Book + Course 102 + 103||100% Cash Back on PRO Training & Coaching Courses worth up to $2000||Get Your 2nd Month Subscription Free worth up to $120||Traders Action Pack & Discounted Subscription worth $497||Not Yet||Not Yet||Not Yet||Not Yet||Not Yet|
Dear Readers/Vendors- this review was established to the best of our abilities with no intended inacuracies. There are over 550 data points in this review if you spot any inaccuracies within this content please contact us here to have it corrected immediately.
TOP 5 Winners Reviews
As stated previously, no two products are identical, there are many strength that are designed into each product to suit specific needs. As such most of the packages can be recommended to a specific audiance based on there strengths. In the following summary reviews we looks at the benefits of each package.
Telechart 2000 Review – Worden Brothers Inc. - 8.9/10
Recommended for US Investors with a fundamental bias who need powerful screening and excellent charts on all platforms.
Telechart has long been one of my favorite tools, I have been a subscriber for over 12 years and find the latest release 12.x to be a huge step forward. Endlessly customizable and scalable the platform offers nearly everything an investor may need.
Pricing and Software 8/10 – Telechart is a big hitter when it comes to software and pricing. Telechart runs on everything – your iPhone your Tablet, your Mac and your PC. It is priced very reasonably with a simply pricing structure. Why does it not score a striaght 10/10? Only because it’s data coverage is U.S. and Canada only and it does not cover options, futures, forex or bonds. However, it was not designed to cover those. If you trade U.S. Stocks, ETF’s or Mutual Funds, then this may be a good solution. Wordens also provide live weekly training seminars which are of a very high quality.
Trade Management 5/10 – Currently Telechart is only integrating with TD Ameritrade, but if you are using TDA as your broker then the portfolio integrations and trading from charts works well.
Fundamental Scanning and Screening 10/10 – Make no mistake about it, if you want fundamentals screened in real-time layered with technical screens all integrated into live watchlists connected to your charts telechart is a power player.
News 9/10 – While telechart does not have a perceivable Real-time news element, it does have integrated news, but what sets it apart is it has a daily Market Commentary from Pete Worden and a very active community sharing trading ideas and banters in a live chat window. It certainly provides some entertainment while your stocks are moving sideways.
Technical Analysis 9/10 – Telechart has an excellent array of technical indicators and drawing tools, all the big ones are there, from OBV, RSI and Bollinger Bands to Fibonacci Fans and Andrews Pitchfork. with over 70 different indicators you will have plenty to play with. They have also introduced live alerts which you can configure to email or pop up if an indicators or trend line is breached. Very useful indeed.
Stock Systems and Back Testing 10/10 – Worden Brothers also have a little secret when it comes to developing backtested systematic approaches to trading. With a platimum membership to telechart you also receive a tool called Stock Finder. Stock Finder is one of the single most powerful intuitive point and click system development tools on the market today. No programming required. That is saying something because it is up against some very stiff competition in this space. Although Stock Finder cannot be used to automatically place trades, it’s ease of use still warrants a 10/10 rating.
Ease Of Use 10/10 – One of the easiest to use and most powerful packages available places the icing on the cake for the Worden Brothers.
Special Offers Discounts Available for TeleChart – Liberated Stock Trader is offering a special deal. If you sign up for Telechart with Worden Brothers you will recieve the Stock Market Crash Detector Book (featured in Stock and Commodities Magazine) and access to our 2 stock market training courses Course 102 Stock Market Investing and Course 103 – Technical Analysis. Go here to register for Telechart
TradeStation Review – Monex Group. - 8.9/10
Recommended for full broker integration, trading off charts and frequent traders. A great price point of FREE for brokerage clients.
TradeStation are a leading brokerage house with excellent execution and low comissions but did you know they have great software also. Joint winner in the review TradeStation offers enough in its software and broker integration to stand tall with the other vendors.
Pricing & Software – 9/10 – With a price point of Free for Brokerage clients and awards from Barrons for the software TradeStation is a force to be reckoned with. Excellent customer service, good training and global market data coverage warrant the highest rating in this category.
Trade Management – 10/10 – With full broker integration TradeStation can offer trading from charts, live P&L analysis and automated trading as part of the package scoring a perfect 10.
Fundamental Scanning & Screening – 10/10 – TradeStation offers an excellent array of choice and flexibility in market screening and filtering, but not just on volume but a host of fundamentals, including excotic data such as commitments of traders, insider traders and even number of company employees. You can literally screen on anything you think will get you an edge in the market. You also get what they call radar screen which is really fast with integrated alerting.
News – 8/10 – TradeStation has real-time news which is an excellent service but only fails to score top marks here bcause it does not provide market commentary or a chat community. But do you really need that? Some people do, its a factor to consider.
Technical Analysis 9/10 – With over 145 different technical indicators TradeStation packs a big punch in the technical analysis space. The charts could be a little more intuitive to use which is why it does not score a perfect 10.
Stock Systems & Back Testing – 8/10 – TradeStation have also cultivated a systems and strategies market place called the “Strategy Network” where you can purchase stock market systems from an ecosystem of vendors or even contract someone to develop your system for you in the “Easy Language” code. No perfect 10 in this round as you will need to learn code to develop your own system.
Ease of Use 8/10 – TradeStation is easy to use, but extremely powerful also. It if probably due a facelife to make it more intuativie to use, but none the less a good score of 8/10 is warranted.
Special Offers Disounts Available for TradeStation – Liberated Stock Trader has teamed up with TradeStation to offer you an amazing 100% cash back on any purchase of:
- Liberated Stock Trader Pro Training (Price Starting at $179,-)
- Our Personal coaching courses (Priced up to $2,000.-)
When you open a brokerage account as a new customer with TradeStation or even add an additional account if you are an existing TradeStation customer, TradeStation will rebate the entire cost of your coaching package via a monthly 20% commission rebate whilst trading through TradeStation.
TradeStation already offers industry leading competitive commissions, but you will receive a further 20% OFF all your commission costs up to the full amount of the price of your purchase . This will be a cash credit to your account.
Not only that, you will also be eligible for any current promotion they are running.
TradeStation were ranked Best by Barrons in a 2012 review.
- Best for Frequent Traders
- Best for International Traders
- Best Trading Experience and Technology
eSignal Review – Interactive Data Inc. – 8.3/10
Recommended for those who like great charts, scanning, broker & chart trading integration and an easy to use yet powerful and elegant interface.
Pricing and Software 10/10 – eSignal offer a quality product that is well developed, looks great and has beautiful charts. It will run on your PC, Mac, Tablet or Smartphone. Not only that they have global data coverage for all stock exchanges, very fast data speeds and cover all markets in the review from equities and ETF’s to futures and Forex.
Trade Management 10/10 – Sporting Broker integration with TD Ameritrade, Interactive Brokers and 10 other brokers eSignal has one of the best integrations of any software vendor. You can place trades from charts and the live profit and loss (P&L) analysis is well developed. Another top score for eSignal.
Fundamental Scanning and Screening 6/10 – eSignal allows you to setup real time scanning and screening of the markets with live updating watch lists. eSignal could offer more in the form of scanning for fundamentals however you can list a huge array of fundamentals in your watch list columns.
News 8/10 – News feeds and more importantly real time news feeds are important to traders, eSignal offers a solid news stream which should not let you down. A lack of trader and community chat or market commentary mean eSignal does not score a 10/10 for this section.
Technical Analysis 8/10 – For the hardcore technical analyst eSignal might not offer enough indicators for your liking, but how many is enough. eSignal has 22 indicators it calls “Studies” and they work quite effectively. However for the drawing tools and the indicators full real time alerting is integrated meaning you do not need to miss the action even if you are not looking at the chart.
Stock Systems and Back Testing 8/10 – eSignal has developed a good ecosystem of stock market system developers who can sell you their systems or develop yours for you. However because there is no point and click system development or back testing you will need to pay for the services.
Ease of Use 8/10 – One of the easiest platforms to use, the interface is intuitive and very reactive.
Special Offers Discounts Available for eSignal – Liberated Stock Trader has teamed up with eSignal to provide you a unique offer. If you decide eSignal is the right package for you then contact barbara.prearo(@)interactivedata.com or call her at 0044 207 825 8776 and mention Liberated Stock Trader, she will help you make you purchase and grant you your second months subscription absolutely free. This could save you up to $120
MetaStock Review – Thomson Reuters. 7.4/10
Recommended for those who need excellent real-time news, access to a huge stock systems market and powerful technical analysis with global data coverage all backed up with excellent customer services.
Pricing and Software 9/10 – MetaStock is one of the biggest fish in the sea of stock market analysis software. Backed up by the mighty Thomson Reuters you can expect excellent fast global data coverage and broad market coverage including equities, futures, Forex, ETF’s and options. No perfect 10 though as MetaStock does not run on multiple platforms, although I have word from the inside they are developing multiplatform access. However, it does have excellent customer service and a huge array of support in the form of training and education.
Trade Management 7/10 – MetaStock does provide broker integration but the execution of trades from charts and live integrated P&L analysis is limited.
Fundamental Scanning and Screening 6/10 – Using Eikon you can see a really in depth analysis of company fundamentals from debt structure to top 10 investors, including level II.
News 10/10 – MetaStock 12 has full Eikon integration with institutional level news, analysis and outlook. This will be the fastest global news service available on the market including translations into all major languages.
Technical Analysis 10/10 – Forex forecasting based on sentiment is an Eikon feature that is absolutely exceptional. Never mind the broadest selection of technical analysis indicators on the market today. MetaStock is the king of technical analysis warranting a perfect 10.
Stock Systems and Back Testing 10/10 – Another area where MetaStock excels is what they call the expert advisors. MetaStock harnesses a huge amount of in-built systems that will help you as a beginner or intermediate trader understand and profit from technical analysis patterns and well researched systems. This is really a key area of advantage.
Ease of Use 7/10 – MetaStock still has the feel of a collection of separately developed applications that require user’s education to make them work together. However with the huge selection of automated expert advisors you can deploy on the selection of stocks in your purview make MetaStock well worth the investment.
Special Offers Discounts Available for MetaStock – Liberated Stock Trader has teamed up with MetaStock to offer you an excellent deal. Purchase MetaStock today and you will get the TRADERS ACTION PACK worth up to $473.
What is included in the Traders Action Pack?
- Discounted price – Save up to $100 off the purchase price
- FREE copy of Technical Analysis from A to Z – a classic in the industry, this 380-page book is a complete reference for Technical Analysis ($40 value)
- FREE copy of Unleash the Power of MetaStock – This CD/Manual combo was made especially for MetaStock 11 and shows you everything you need to know to squeeze all you can from our latest features. ($99 Value)
- ** FREE month of LIVE online training – BreakAway Training Solutions is the official training partner of MetaStock. Take advantage of a real MetaStock professional in an interactive online training environment. ($99 Value)
- † FREE month of end-of-day or real-time data (up to a $135.00 value)
EquityFeed Review 7.6/10
Recommended for those needing fast news, powerful alerts, real-time market views and unique integrated decision support. Time & Sales and an excellent integrated Level II view are also very nice features. News on charts and filings on charts are also very good. Also in the real-time filtering and scanning you can also scan on block trades which is absolutely unique.
Pricing and Software 8/10 – Equity feed is a very well written and intuitive tool. The price point is a little higher than the competition but that does include the data also. The data is limited today to the U.S, but does cover equities and options.
Trade Management 10/10 – Trade management is one area where EquityFeed shines, with full broker integration to over 10 brokers and a real-time P&L analysis tool. Importantly EquityFeed also has the ability to trade directly from charts.
Fundamental Scanning and Screening 10/10 – The level of market view and scanning enabled by EquityFeed is breathtaking. With Filter Builder and Streaming Filter you can enable a real-time view into the market for just the stocks you are looking for. A good selection of fundamental as well as technical scanning criteria gives you a definite edge in the market.
News 10/10 – Although Equity feed does not have an integrated chat / community function, it does do news really well. The ability to choose, filings, block trade or other types of new and then actually plot the news events on a chart is fabulous. No other vendor in the review can offer this.
Technical Analysis 6/10 – There are many unique and power features in Equity feed. The array of Technical indicators however is a little limited. But the question is, how many is enough. EquityFeed offers all of the most used indicators such as moving averages, Bollinger Bands, MACD, Stochastic and of course volume. Over 20 indicators in total.
Stock Systems and Back Testing 0/10 – If you are looking for system development and back testing then this tool is not for you. If you do not need this and prefer to have excellent and powerful views into the market then EquityFeed needs to be on your list of candidates.
Ease of Use 9/10 – EquityFeed is designed with the user in mind, this makes it very simple to use despite the powerful features it has under the hood.